SCHUTT LAW FIRM, P.A.
Phone: 239.540.7007
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Schutt Law Firm, P.A. - Attorney Profile
Home Closing 101
Do you know what to expect on closing day?
Most people don’t. And that can lead to some uneasiness. But help is here. The American Land Title Association, or ALTA, has created a website featuring information every homebuyer can use to help familiarize themselves with the closing process before walking into the closing
The Home Closing 101 Site
At Home Closing 101 you will find information you can use to prepare yourself for closing. The site covers topics such as title insurance, escrow fees and closing costs. So when the time comes to sign on the dotted line you’ll feel fully prepared.
Home Closing 101 is especially helpful for first time buyers. Buying a house is an exciting time and the more you know about the process, the more relaxed you’ll be going through it. Spend a little time on the site and you can walk through the home buying process, receiving explanations for each step and helpful hints on how to find the right people to help you on your journey to homeownership.
Click here to start learning about the home buying process.
What Is American Land Title Association (ALTA)?
Founded in 1907, ALTA is the national trade association and voice of the title insurance industry. ALTA members search, review and insure land titles to protect home buyers and mortgage lenders who invest in real estate.
ALTA members advocate safe and efficient transfer of real estate and insist on high standards when searching land title records and preparing insurance documents. The industry seeks to eliminate risk before insuring, which provides homebuyers with the best possible chance of avoiding land title problems. But, title difficulties can and do occur, and members offer both Owner’s and Lender’s title insurance policies as effective safeguards.
Click here to visit the ALTA website.
About Stewart Title Insurance
Stewart (NYSE: STC) is a leading provider of real estate services, including global residential and commercial title insurance, escrow and settlement services, lender services, underwriting, specialty insurance and other solutions that facilitate successful real estate transactions. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, through our direct operations, network of approved agencies and other companies within the Stewart family. Through a focus on integrity, smart growth and conservative management, Stewart remains committed to serving our customers, innovating and improving to meet their needs in an ever-changing market.
Please click on the link below for more information:
WHY TITLE INSURANCE?
Owning real estate is one of the most precious values of freedom in this country. You want the assurance that the property you are buying will be yours. Other than your mortgage holder, no one else should have any claims or restrictions against your home.
Title insurance is issued after a careful examination of the public records. But even the most thorough search cannot absolutely assure that no title faults are present, despite the knowledge and experience of professional title examiners. In addition to matters shown by public records, other title problems may exist that cannot be disclosed in a search. Title insurance eliminates any risks and losses caused by faults in title from an event that occurred before you owned the property.
Title insurance is different from other types of insurance in that it protects you, the insured, from a loss that may occur from matters or faults from the past. Other types of insurance such as auto, life, or health cover you against losses that may occur in the future. Title insurance does not protect against any future faults, but does protect you from risks or undiscovered interests. Another difference is that you pay a one-time premium for a policy that remains effective until the property is sold to a new owner - even if that doesn't occur for decades.
What is a Lender's Policy?
A lender's policy, also known as a loan policy or a mortgage policy, protects the lender against loss due to unknown title defects. It also protects the lender's interest from certain matters which may exist, but may not be known at the time of the sale.
This policy only protects the lender's interest. It does not protect the purchaser. That is why a real estate purchaser needs an owner's policy.
What is an owner's policy?
An owner's policy protects you, the purchaser, against a loss that may occur from a fault in the ownership or interest you have in the property. You should protect the equity in your new home with a title policy.
What does an owner's policy provide?
- Protection from financial loss due to demands that may be charged against the title to your home, up to the cost of the title policy.
- Payment of legal costs if the title insurer has to defend your title against a covered claim.
- Payment of successful claims against the title to your home covered by the policy, up to the cost of the policy.
Why the seller needs to provide title insurance?
Any purchaser will need evidence that his investment in your property is free of title defects. The title insurance policy that you provide the purchaser is a guarantee that you are selling a clear title to your real estate, unencumbered by any legal attachments that might limit or jeopardize ownership. It will reassure your purchaser that he or she is protected from any risks or losses and could help you close your deal.
Why the buyer needs title insurance?
Without title insurance, you may not be fully protected against errors in public records, hidden defects not disclosed by the public records, or mistakes in examination of the title. As a result, you may be held fully accountable for any prior liens, judgments or claims brought against your new property. If this should occur, your title policy insures that you will be defended at no cost against all covered claims up to the amount of the policy.
How much does title insurance cost?
The insurance commission approves and controls the premiums for title insurance policies. The premiums are paid only once and the cost depends upon the purchase price of the property and the policy amount must be equal to the purchase price.
What does title insurance protect from?
- Fraud
- Adverse possession
- Rights of divorced parties
- Deeds by minors
- Undisclosed Heirs
- Errors in tax records
- False affidavits of death or heirship
- Probate matters
- Deeds and wills by persons of unsound mind
- Conveyances by undisclosed divorced spouses
- Forfeitures of real property due to criminal acts
- Deeds by persons falsely representing their marital status
- Documents executed by a revoked or expired Power of Attorney
- Defective acknowledgements due to improper or expired notarization
- Mistakes and omissions resulting in improper abstracting
- Forged deeds, mortgages, wills, releases and other documents
- False impersonation of the true land owner
Explore our comprehensive guide to finding the perfect rental property and learn everything you need to know in this post by Stewart: Schutt Law in Fort Myers.
Buying a rental property? Pay attention to the crucial step of protecting your investment with title insurance. Ensure a smooth and secure real estate transaction with Schutt Law in Fort Myers. Call (239) 540-7007 to safeguard your property rights today!
Understanding Your Requirements
Before diving into the sea of available rental properties, it's essential to crystallize your requirements. Beyond the obvious factors like location, budget, and size, consider your lifestyle, commuting needs, and future plans. Are you seeking a bustling urban environment or a serene suburban retreat? Is proximity to public transportation crucial? Anticipating these needs will be a compass in your quest for the perfect rental property.Balancing Wants and Needs
As the saying goes, money talks. Establishing a realistic budget is pivotal in finding your ideal rental property. Begin by calculating your monthly income and determining a comfortable percentage for housing expenses. Be mindful of additional costs such as utilities, maintenance fees, and parking. Striking a balance between your wants and needs is imperative; compromising on specific amenities may open up a wider array of choices within your budget.Finding the Right Neighborhood
The significance of location must be balanced when choosing the perfect rental property. Consider proximity to work, schools, healthcare facilities, and recreational spaces. Research the safety and amenities of different neighborhoods to align your choice with your lifestyle. Whether you yearn for the vibrancy of city life or the tranquility of the suburbs, the right location can significantly enhance your overall renting experience.Online Platforms and Real Estate Agents
Armed with your requirements and budget, leverage online platforms and real estate agents to streamline your search. Platforms like Zillow, Apartments.com, and local real estate websites offer a vast array of listings with detailed information. Additionally, engaging with real estate agents can provide valuable insights into the rental market, ensuring you stay informed about the latest opportunities.Elevate your peace of mind when purchasing a rental property. Choose Schutt Law in Fort Myers for comprehensive title insurance services. Dial (239) 540-7007 to fortify your investment and confidently navigate the real estate landscape. Your property's protection starts here!
Unveiling the True Character of a Property
Photographs and descriptions only reveal so much about a rental property. To truly understand its character and condition, schedule inspections. Walk through the space, inspecting for any signs of damage or maintenance issues. Assess the neighborhood during different times of the day to gauge noise levels and safety. The more thorough your inspection, the better equipped you'll be to make an informed decision.Understanding Rental Agreements
Before committing to a rental property, carefully review the lease agreement. Pay attention to terms related to rent increases, maintenance responsibilities, and any restrictions on alterations to the property. Seek clarification on the duration of the lease and conditions for renewal. Understanding the lease thoroughly will prevent surprises and foster a harmonious landlord-tenant relationship.Community Insights: Tapping into Local Networks
Engage with the local community to gain insights into the rental market and specific neighborhoods. Online forums, community groups, and social media platforms can provide firsthand experiences and recommendations. Connecting with current or previous tenants of a property you're considering can offer valuable perspectives on the landlord, property management, and overall living experience.Flexibility and Patience: Keys to Success
Finding the perfect rental property is a journey that requires a blend of flexibility and patience. Be open to adjusting your criteria based on the available options and market dynamics. While having clear preferences is essential, remaining adaptable will increase your chances of discovering a hidden gem that aligns with your vision of the ideal rental property.Your Perfect Rental Property Awaits
In pursuing the perfect rental property, meticulous planning, research, and flexibility are your greatest allies. By understanding your needs, budgeting wisely, leveraging online platforms, and tapping into local insights, you'll confidently navigate the rental landscape. Remember, the perfect rental property is not just a physical space; it's a harmonious blend of location, amenities, and community that aligns seamlessly with your lifestyle and aspirations. Embark on this exciting journey, and soon, you'll unlock the door to your ideal haven.Smart investors know the value of a secure foundation. When buying a rental property, insist on title insurance with Schutt Law in Fort Myers. Call (239) 540-7007 to fortify your investment strategy and ensure a worry-free real estate journey. Your future property success begins with the right protection!
12601 New Brittany Blvd
Fort Myers, FL 33907
Phone: 239.540.7007
Fax: 239.791.1080
